What Do Property Management Companies Do?

Managing rental properties requires a lot of commitment. As a landlord, you may not have the expertise and time to manage your rentals. Property management in Centennial always comes in handy in such situations and makes your work very easy. However, you may not know what exactly these companies do, such as whether they will take care of everything in the property or whether you’ll be required to handle some things. Read on to know what property management companies do.

Collect Rent from The Tenants

Collecting rent is one of the most obvious responsibilities of a property management company. Collecting rent may seem like an easy task, but it involves a lot. These include sending rent reminders, processing the payments, disbursing them to the property owner, keeping rent records, among other things.

Addressing Maintenance Needs

Maintenance needs can arise at any time, and they are the ones that mostly make property owners seek the services of a property management company. Urgent maintenance needs include things like unblocking a blocked pipe and fixing a backflowing pipe. Routine maintenance includes:

• Fixing appliances
• Swimming pool maintenance
• Lawn care
• Pressure washing
• Drywall patching

Dealing With Defaulting Tenants

Sometimes, tenants may default by not paying rent on time, breaching the lease agreement, and doing things that negatively interfere with the property’s condition. A property management company is responsible for dealing with such tenants. They can handle them directly or involve law enforcers if the case is beyond the company. They also carry out evictions when necessary.

Screening Tenants

Screening tenants is one of the best ways to avoid problematic tenants. It is the duty of the property management company to screen tenants before they can move in. They do this by complying with the housing laws to ensure they get all the information they need without making the tenant feel discriminated. Screening may include background checks to see whether the tenant has some criminal records, outstanding debts, and previous evictions.

Carrying Out Routine Inspections

Routine inspections are crucial since problems in the property can be detected early and fixed before they worsen. These inspections can also prevent future disasters. Property management companies conduct these inspections after a period of time, say monthly or after three months.

Conducting Move-in And Move Out Inspections

Property managers usually check move-in inspections to ensure that the house or apartment is ready for occupancy. They may also sign leases and collect rent and security deposits when the tenant moves in. They also provide tenants with vital information such as maintenance responsibilities and rules they are required to adhere to.

Additionally, the managers are responsible for conducting move-out inspections. They do this to check whether there are any damages so that the tenant can cater for repairs.

Before hiring a property management company, you have to be sure that doing so will be of value to you. As seen above, property managers handle a lot of things and ensure that everything is working out well in your property. If you can’t do all the things highlighted above by yourself, hiring a property management company will be the ideal solution.